You Wish to Accumulate $15,000 Within Five Years

question 99

Multiple Choice

You wish to accumulate $15,000 within five years.How much would you have to save each year for five years to attain your goal? Assume an annual interest rate of 4%.Savings occur at the end of each year.

• A)$2,662
• B)$2,769
• C)$2,905
• D)$3,000
• E)$3,500

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Definitions:

Reproduction

The biological process by which new individual organisms are produced from their parents, ensuring the continuation of species.

Cytoplasmic Division

Cytoplasmic division, also known as cytokinesis, is the process where the cytoplasm of a single eukaryotic cell splits into two daughter cells, following nuclear division.

Telomerase Enzymes

Enzymes that add nucleotide sequences to the ends of chromosomes (telomeres), playing a critical role in cellular aging and cancer.

Transcription

The process by which the information in a strand of DNA is copied into a new molecule of messenger RNA (mRNA), initiating gene expression.